Iraq Builds City has taken a bold step to transform its economy through the City of Gold project in Baghdad. This ambitious initiative, approved by the Minister of Trade and backed by the Ministerial Council for the Economy, promises major economic growth. The project focuses on turning Baghdad into a gold and jewellery powerhouse in the Middle East.
According to Dr. Mudhhir Mohammed Saleh, the Financial Advisor to the Prime Minister, the project aims to make Iraq a regional centre for gold manufacturing and trade. He explained that Iraq’s strategic location and rich artisanal traditions make it the perfect place for such a venture.
The City of Gold will include high-tech gold-processing factories, design workshops, marketing centres, and gold-testing laboratories. It will also host vocational training centres to help young Iraqis and artisans gain new skills. These facilities will prepare the workforce to meet modern demands in the gold industry.
This project does more than boost gold production. It supports Iraq’s broader goal of economic diversification. By reducing the country’s dependence on oil, the project opens new paths for sustainable income. It encourages the growth of the private sector, especially small and medium-sized businesses.
In addition, thousands of job opportunities are expected to emerge from the City of Gold. Young Iraqis and skilled artisans will have the chance to take part in a growing industry. The goal is to move Iraq from being only a consumer of gold to becoming a leader in gold exports.
Furthermore, Iraq Builds City the Trade and Economic Research Centre (TREC) praised the plan as a vital move for the nation’s future. It urged the Ministries of Education and Higher Education to align school and university programs with the project’s technical needs. This change would ensure graduates have the skills needed in Iraq’s changing labour market.
With a focus on innovation, education, and local talent, the City of Gold reflects Iraq’s commitment to long-term economic progress. It not only boosts industrial development but also supports financial stability through local production.
This project marks a turning point for Iraq’s economy. By investing in its people and natural strengths, the country is carving a new future for itself—one rooted in creativity, production, and resilience.